Facebook IQ and SECTION have completed the beta development of a Cross Border Insights Finder. The tool was produced by Facebook IQ and designed and developed by SECTION.
It is an insights tool which enables businesses to find and reach new audiences by comparing country data based on past campaign performances across Facebook, Instagram and Audience Network. The tool also allows companies to identify which markets are more likely to convert, cost less and encounter fewer ads, allowing them to better plan their business and global campaigns.
Facebook IQ looks to allow businesses be able to leverage on this new tool to better connect with the right people in markets they are targeting or intend to explore. The Cross Border Insights Finder is able to provide an instant comparative analysis of these indicators:
- Potential reach: The number of people a company’s ads would potentially be able to reach on Facebook in the listed country, including the potential market size.
- Conversion index: The aggregated relative conversion rate in the selected country and industry for the campaign objective.
- Cost index: The aggregated relative costs to advertise in the selected country and industry for the campaign objective.
- Competition index: How frequently consumers see ads in the selected country and industry for the campaign objective, indicating the competitiveness of the market on Facebook.
“Our objective at Facebook IQ is to help find scalable insights solutions for our advertisers, agencies and partners so they can realize the full potential of our platforms. In a world so open and connected, it is important for us to bring the world closer together, enabling businesses to connect with their consumers, wherever they may be, and Facebook is best positioned to do that,” Sandra Marichal, regional content strategist for Facebook IQ APAC, said.
“We developed the Cross Border Insights Finder with the simple idea that aggregated conversion data from past campaigns run on our platforms would be an insightful proxy for future performance,” Marichal added.
“We are thrilled to work with Facebook IQ, the collaboration allows us to see their approach towards data and how Facebook can connect relevant businesses to people sharing similar interests across the world. We believe the tool will help many businesses to grow regionally and globally,” Ryan Hoe, partner and co-founder of SECTION, said.